The Uncertainty of Silicon Valley

I completely forgot about that starting SPACs with celebrity endorsers over dinner at Carbone moment. But I do think when you look back on that sort of low interest rate environment, those types of moments are really going to be emblematic of some of the excesses. And remember, there were tons of alternative vehicle companies with a huge financing needs and highly uncertain path to product market fit or anything like that. Even an environment where people want to take risks, etc., doesn't necessarily mean they're ever really appropriate for public investors.